The Inland Revenue Department (IRD) achieved a historic milestone in 2024, collecting its highest-ever tax revenue of Rs. 1,958,088 million.
This record-breaking figure includes Rs. 1,023,207 million from income taxes and Rs. 714,684 million from Value Added Tax (VAT).
According to an official announcement by the department, the 2024 revenue marks an increase of Rs. 392,229 million compared to 2023, reflecting an impressive growth rate of 25.1%.
The achievement underscores the effectiveness of recent tax reforms and enforcement measures, contributing significantly to the country’s fiscal stability.
